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In the 1960s,many economists and policy makers considered the trade-off between inflation and unemployment revealed in the Phillips curve to be permanent.This belief was challenged by ________,who argued that there is no trade-off between inflation and unemployment and the long run.
Punitive Damages
Monetary compensation awarded in a lawsuit that goes beyond what is necessary to compensate the plaintiff and is intended to punish the defendant for particularly egregious conduct.
Gross Negligence
An action committed with extreme reckless disregard for the property or life of another person.
Duty To Render
Is the obligation to provide a service or perform specific tasks under a contract or legal agreement.
Conscious Negligence
A situation where an individual is aware of the potential harm their lack of care or failure to act might cause, but disregards the risks.
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